Revolut has applied for a United States banking license as the fintech giant pushes deeper into the world’s largest financial market and moves closer to its goal of reaching 100 million global customers.
Key Takeaways
- Revolut has applied for a US national bank charter to expand services such as loans, credit cards and deposits.
- The fintech currently serves about 70 million customers across 40 markets worldwide.
- Cetin Duransoy has been appointed as US CEO to lead the company’s expansion in the American market.
- Revolut plans to invest about $500 million in the US over the next three to five years as part of its growth strategy.
What Happened?
British fintech company Revolut has officially applied for a national bank charter in the United States, aiming to expand its financial services and strengthen its presence in the American market. If approved by regulators, the license would allow the company to offer deposits, loans, credit cards and payment services directly to customers across the country.
The move is part of Revolut’s broader global expansion strategy as it targets 100 million customers worldwide in the coming years.
Today, we officially filed our application for a U.S. banking license.
— Revolut (@Revolut) March 5, 2026
This is a major milestone in our mission to build the world’s first truly global bank.
Revolut Moves Toward Full US Banking Operations
Revolut’s application for a US national bank charter marks a major step in the company’s push to become a truly global banking platform. The London based fintech is seeking approval from the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation.
If regulators approve the application, Revolut will be able to operate across all 50 US states and connect directly to key financial infrastructure such as Fedwire and ACH payment networks. The approval would also allow the company to offer insured deposits, lending services and credit cards directly to American customers.
Revolut founder and CEO Nik Storonsky highlighted the importance of the move in a company statement.
Revolut founder and CEO Nik Storonsky said:
New Leadership for the US Market
As part of the expansion effort, Revolut appointed Cetin Duransoy as its new US Chief Executive Officer. Duransoy previously served as US CEO of fintech marketplace Raisin and held senior leadership roles at Capital One and Visa.
The leadership change is designed to strengthen the company’s presence in the American market. Former US chief executive Sid Jajodia will transition to the role of global chief banking officer.
Revolut also plans to invest around $500 million in the United States over the next three to five years. The investment will support the new banking entity, marketing efforts and hiring as the company grows its American customer base.
Rapid Global Growth
Revolut has been expanding rapidly across global markets. The fintech currently serves around 70 million customers across 40 countries, making it one of the largest digital banking platforms in the world.
The company reported strong financial performance in 2024. Revenue increased 72 percent to $4 billion, while profit before tax rose 149 percent to $1.4 billion. The company said its growth momentum continued into 2025 with about $1 billion in annualized revenue.
Revolut was also valued at $75 billion in November after a major secondary share sale, reinforcing its status as one of the most valuable fintech companies globally.
Expansion Beyond the United States
The US push is only one part of Revolut’s broader expansion strategy. The company recently expanded operations to Mexico and secured a payments license in India, while continuing to grow across Europe and other regions.
Revolut has also announced plans for a new global headquarters in London, highlighting its long term ambition to operate as a global financial platform.
Competition in the US digital banking space is also increasing. Other fintech and banking players are pursuing similar strategies to capture market share in the United States, which remains the largest financial market in the world.
CoinLaw’s Takeaway
In my experience covering fintech companies, entering the US banking market is one of the toughest milestones any global fintech can attempt. The regulatory hurdles are significant, but the reward is equally large because the United States remains the most competitive and profitable financial market.
I found Revolut’s move particularly important because the company is not just testing the waters. With 70 million users, strong revenue growth and a planned $500 million investment, Revolut is clearly preparing for a serious long term presence in the US. If the license gets approved, it could push the company much closer to its 100 million customer goal and reshape competition in digital banking.
